Leo Pharma to significantly expand its salesforce in Russia  

2009.06.15
The Danish pharmaceutical firm is to expand its salesforce presence in Russia from 4 to 30 people, giving it access to a further 13 cities besides Saint Petersburg and Moscow
Danish pharmaceutical company Leo Pharma is to significantly increase its salesforce coverage in Russia through a deal with another Nordic pharma firm, Nycomed, reports financial daily newspaper Børsen. The company is aiming to increase its sales in Russia from around DKK 20m (USD 3.8m) to DKK 100m (USD 19m).
 
Via the agreement with Nycomed, Leo Pharma currently has four salespersons covering Saint Petersburg and Moscow. But that number will now be increased to 30, giving Leo Pharma access to a further 13 cities each with a population of over 1 million.
 
A Leo Pharma spokesman commented to Børsen that before the financial crisis arose, the pharmaceutical market in Russia was growing at an average annual rate of 20%. The company concedes that the global economic downturn has neutralised that growth, but says its is just a matter of time before the Russian pharmaceutical market recovers momentum.
 
Leo Pharma has a successful prescription drug in the psoriasis area, and also a heparin product for anticoagulation. It currently sells its products in 90 countries and generates annual revenues of DKK 5.7bn (USD 1bn). Prior to its expansion in Russia, Leo Pharma has most recently set up a subsidiary in China and fielded a salesforce in Mexico.
 
Link > Leo Pharma               

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